The Office of the Accountant-Generation of the Federation (OAGF) today disclosed that a total sum of N2.428 trillion was shared to the federal, states and the local governments from the September 2026 revenue accrual to the Federation Account.
The Director (Press and Public Relations) of the Office, Bawa Mokwa, in a statement today indicated that the revenue was shared to the tiers of government at the October 2026 Federation Account Allocation Committee (FAAC) meeting held in Abuja.
The Director stated that the N2.428 trillion total distributable revenue comprised distributable statutory revenue of N1.672 trillion, distributable Value Added Tax (VAT) revenue of N756.587 billion.
A communiqué issued by the FAAC on the revenue shared at the meeting showed that total gross revenue of N3.913 trillion was available in the month of September 2026. Total deduction for cost of collection was N131.758 billion while total transfers, refunds and savings stood at N1.352 trillion.
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According to the communiqué, gross statutory revenue of N3.096 trillion was collected in the month of September 2026, higher than the sum of N2.850 trillion received in the preceding month by N246.384 billion.
The document reflected that gross revenue of N816.872 billion was available from the Value Added Tax (VAT) in September 2026, lower than the N834.843 billion available in the preceding month by N17.972 billion.
The communiqué indicated that from the N2.428 trillion total distributable revenue, the Federal Government received total sum of N832.242 billion, the state governments received N799.872 billion, the local governments received N560.660 billion, while the sum of N236.049 billion (13% of mineral revenue) was shared to the benefiting states as derivation revenue.
The Director further clarified that out of the N1.672 billion distributable statutory revenue, the Federal Government got N756.583 billion, the state governments received N383.749 billion compared to N295.855 billion distributed to the local governments, while the sum of N236.049 billion (13% of mineral revenue) was shared to the benefiting states as derivation revenue.
In addition, he stated that from the N756.587 billion distributable Value Added Tax (VAT) revenue, the Federal Government got N75.659 billion, the state governments shared N416.123 billion and the local governments received N264.805 billion.
Mokwa confirmed that in the month under review, Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Petroleum Royalties, Import Duty, CET Levies and Excise Duty significantly increased while Companies income Tax (CIT), CGT & SDT, Value Added Tax (VTA), Mineral Royalties, and Gas Flared Penalty, Rental Gas Flared Fee and Misc. Oil Revenue considerably declined.
